Memecoin Was Hacked, Value of Million Dollar Investment Dropped to $150

A millionaire's investment lost nearly all its value after Memecoin's NORMIE was hacked.

According to the post of Blockchain analysis platform Lookonchain, after NORMIE was attacked, the value of 11.23 million NORMIE, which an investor bought for 1.16 million dollars, dropped below 150 dollars.

An attacker discovered a vulnerability in the NORMIE contract and carried out a flash loan attack. NORMIE's market value dropped from approximately $41 million to $1 million.

Interestingly, the attacker said that he would return 90% of the money he stole if the project issued a new token. The NORMIE team accepted this offer.

It was also stated that the Ethereums in the project's wallet will be used to cover the losses of the users.